INTL FCStone is to open a captive IT development company with offices in Bangalore, India. INTL FCStone Technology Services Private Limited will begin operational activities on 1 July, 2019.
The new venture arises out of a previous relationship with DigitalDot Consultancy India Pvt Ltd in which DigitalDot performed development services exclusively for INTL. After working together for close to two years and building a predominately Bangalore-based team of developers to a point of critical mass, INTL executed on its longer-term strategy to internalise its software development by offering to employ all of DigitalDot’s developers. The newly organised INTL FCStone Technology Services Private Limited will serve all the Company’s business lines. The Bangalore office opens with 70 employees and expects to fill another 35 positions in the very near term.
Xuong Nguyen, Chief Operating Officer for INTL FCStone Inc. says: “This new office will afford us the opportunity to leverage the technological expertise in Bangalore to enhance and complement our existing software capabilities. INTL remains committed to maintaining its high-touch approach to client service, but to also leading the industry with technology solutions that meet the demand of today’s global financial markets. Our team in Bangalore has, and will, continue to play a large part in developing advanced trading, analytics and other software products for our various business lines.”
